Torsion Projects has filed a notice of intention to appoint an administrator.
The move comes after £78m turnover Torsion Construction went under in July owing £15m to suppliers.
Latest filed accounts for Torsion Projects for the year to December 31 2024 show an annual turnover of £47m generating a pre-tax profit of £505,000.
The company specialises in the construction of care homes, retirement living and residential projects with a large amount of work for sister company Torsion Care.
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notice with its regular checks of high court construction insolvency applications.Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.
The Enquirer has linked-up with Red Flag Alert to offer readers a discount on its services and help you avoid worthless invoices from insolvent companies.
For more information and to benefit from the Enquirer discount visit Red Flag Alert.
